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MARC has withdrawn its MARC-3ID/BBB-ID ratings on Syarikat Pengeluar Air Sungai Selangor Sdn Bhd’s (SPLASH) RM435 million Islamic Notes Issuance Master Programme (Notes) comprising RM50 million Murabahah Commercial Papers and RM385 million Murabahah Medium Term Notes at the request of the issuer. The ratings withdrawal affects RM265 million of outstanding notes issued under the aforementione...
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MARC today took various rating actions on the Selangor water sector issuers. Below is a list of all the affected debt issuances and rating actions:1. Syarikat Bekalan Air Selangor Sdn Bhd (SYABAS)RM3.0 billion BBA CP/MTN2. Puncak Niaga (M) Sdn Bhd (PNSB)RM1.02 billion BaIDSRM546.88 million A NotesRM435.0 million RUB3. Puncak Niaga Holdings Bhd (PNHB)RM546.88 million RUN with warrants4. RUN Holding...
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MARC has downgraded its ratings on Syarikat Pengeluar Air Sungai Selangor Sdn Bhd’s (SPLASH) RM435 million Islamic Notes Issuance Master Programme comprising RM50 million Murabahah Commercial Papers (MCPs) and RM385 million Murabahah Medium Term Notes (MMTNs) to MARC-2ID /AID from MARC-1ID /AAID. Concurrently, the ratings have been removed from MARCWatch Negative where they were first placed...
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MARC has placed the ratings of all its Selangor water sector-related issuances on MARCWatch Negative. The rating action affects the following issuers and issuances:Syarikat Bekalan Air Selangor Sdn BhdRM3.0 billion BBA CP/MTN Programme - MARC-1ID / AA-IDPuncak Niaga (M) Sdn Bhd RM1,020.0 million BaIDS - AAIDRM546.875 million Junior Notes A - A+RM...
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MARC has affirmed Syarikat Pengeluar Air Sungai Selangor Sdn Bhd’s (SPLASH) ratings of MARC-1ID /AAID on its RM435 million Islamic Notes Issuance Master Programme comprising RM50 million Murabahah Commercial Papers (MCPs) and RM385 million Murabahah Medium Term Notes (MMTNs). The developing outlook on the rating has been maintained pending finalisation of the acquisition of the water assets ...
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MARC has affirmed Syarikat Pengeluar Air Sungai Selangor Sdn Bhd’s (SPLASH) ratings of MARC-1ID / AAID on its RM435 million Islamic Notes Issuance Master Programme comprising RM50 million Murabahah Commercial Papers (CPs) and RM385 million Murabahah Medium Term Notes (MMTNs). Concurrently, MARC has revised the rating outlook to developing from stable to reflect SPLASH’s exposure to ind...
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MARC has affirmed the MARC-1ID /AAID ratings of Syarikat Pengeluar Air Sungai Selangor Sdn Bhd’s (“SPLASH”) RM435 million Islamic Notes Issuance Master Programme, comprising RM50 million Murabahah Commercial Papers (“CPs”) and RM385 million Murabahah Medium Term Notes (“MMTNs”). The ratings carry a stable outlook.The ratings are supported by SPLASH’s...
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MARC has assigned short-term and long-term ratings of MARC-1ID/AAID to Syarikat Pengeluar Air Sungai Selangor Sdn Bhd’s (“SPLASH”) RM435 million Islamic Notes Issuance Master Programme of 20 years tenor, comprising 1) RM50 million Islamic (Murabahah) Commercial Papers (“CPs”) issuance programme (“CP Programme”); and, 2) RM385 million Islamic (Murabahah) Me...
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